Business & Market Intelligence

India to Cross $1 trillion in GDP by Next Year; Fastest GDP Growth in 18 Years

Indian
economy, Asia's fourth-largest, was expected to expand 9.2% this fiscal
year ending in March, its fastest growth in almost two
decades, according to the government reports. By comparison, China's
economy grew 10.7% in 2006. India's economic growth has averaged 8.3% over the past three
fiscal years.

India's nominal GDP is expected to touch about $900
billion this year and next year India is expected to cross $1 trillion in GDP,
according to Standard
Chartered Bank estimates.

Manufacturing output growth was seen at 11.3% compared with 9.1% a year
ago

Services sector, which make up more than half of
economic activity, were seen growing 11.2% in 2006-'07 compared
with 9.8% a year earlier.

Farming, which generates a 20% of GDP but employs about 60% of
the population, was estimated to grow 2.7% percent in
2006-'07.